In answer to both questions, I think it depends on how critical Service Management is to the core objectives of the organisation, specifcially around protecting sales, protecting internal functions, and protecting the brand.

However the bottom line is you cannot measure "ITIL", therefore it would be difficult to quantify how processes support overall objectives.

There are probably other measures (CMM, ISO2000) which are far more bankable measures of an organisations maturity.

But 'have times changed?' do prospective buyers consider it better when purchasing a company if the organisation is adopting a recognised framework? does it hold buyer appeal? has ITIL awareness expanded that far that buyers ask the question? is it a a topic that would attact a buyer more knowing that an organsiation adopts best practice? do prospective buyers really care, or are they just concerened with profit/loss/value of the overall business?

I agree that the core business itself presents a determining factor. If the company was an IT managed services provider, than this may be a point of discussion and 'attractiveness' or security that the company is and has improved process ('such as 'it looks like they know what there doing'). However if the company was a High Street retailer, than this may not be so important.

If a company is being bought by another company, the buyer company usually will imprints its own processes on the bought department so whether the bought company processes are better worse or the same or some where in between

it may not matter to MGMT

They will say... our is better.. go with ours

NOTE: I have been through this from both ends_________________John Hardesty
ITSM Manager's Certificate (Red Badge)

Adopting ITIL, whether as a framework or otherwise, says nothing whatever about the quality of your service management system and is not even a measurable situation.

However, taking your second post, there is a widespread misunderstanding of what ITIL is and one could just imagine the following:

"We've got ITIL."
"Oh that's good. You must be rather well organized. We'll buy you up."

But as soon as this is followed up with a request to run an audit over your systems, the ITILness of it becomes irrelevant because you cannot audit against ITIL.

If you were to say "We've got ITIL" to me, I might reply: "Ah. what else is on your bookshelves?"

And if you said "We do ITIL" I would ask "do you find it helps you when you review your management system?"

It is perfectly possible to ruin a good management system by "implementing ITIL"._________________"Method goes far to prevent trouble in business: for it makes the task easy, hinders confusion, saves abundance of time, and instructs those that have business depending, both what to do and what to hope."
William Penn 1644-1718